Overview
Chemicals

Rasa Industries,Ltd.

Rasa Industries operates across three core segments: Chemicals, Machinery, and Electronic Materials. The Chemicals segment produces phosphoric acid, phosphate compounds, water treatment coagulants, high-purity reagents for the electronics industry, and deodorizing/antibacterial agents. The Machinery segment manufactures and sells tunnel boring machines, crushing and waste processing equipment, and provides precision machining services, while the Electronic Materials segment produces high-purity inorganic materials, radioactive iodine adsorbents, and coating agents for semiconductor applications.

Market Cap
¥61.4B
US$392M
EV
¥60.0B
US$382M
Stock¥1,572▼-2.36%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.2
x
LTM EV/EBIT
9.2
x
LTM PER
13.4
x
LTM PBR
1.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+30.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Oct 15, 26Rasa Industries business-partner shareholding association filed change report (short-term large transfer) amid change of its representative chairman
MC → EV Bridge
61.4BUS$392MMarket Cap7.27BUS$46.4M+ Debt4.89BUS$31.2M− Cash3.81BUS$24.3M− Inv. Sec.60.0BUS$382MEV
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Performance & Balance
Revenue 5Y (¥B)
35.4US$226M'22/349.6US$316M'23/342.8US$273M'24/345.4US$290M'25/347.7US$304M'26/3
EBITDA 5Y (¥B)
5.00US$31.9M'22/36.47US$41.2M'23/35.46US$34.8M'24/36.53US$41.6M'25/37.79US$49.7M'26/3
Net Income 5Y (¥B)
2.54US$16.2M'22/33.23US$20.6M'23/32.38US$15.2M'24/33.13US$20.0M'25/34.36US$27.8M'26/3
Capital Structure
82%
18%
EquityD/E 0.23xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
5.73US$36.6M11.1US$71.1M'22/37.68US$49.0M12.2US$77.6M'23/36.63US$42.3M8.91US$56.8M'24/38.29US$52.9M8.47US$54.0M'25/38.70US$55.5M7.62US$48.6M'26/3
Shareholders
Top 10 hold 46.7%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.14%
2
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
6.05%
3
Rasa Industries,Ltd. Business Partners' Stock Ownership Association
5.65%
4
Akira KATAYAMA
5.08%
5
RS Technologies Co.,Ltd.
5.07%
6
Custody Bank of Japan, Ltd. (Trust Account)
3.95%
7
BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
3.46%
8
Mizuho Bank, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
3.21%
9
MUFG Bank, Ltd.
2.56%
10
Asahi Mutual Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
2.56%
Management
9 officers
Kosaku SAKAO
Representative Director, Chairman
Apr 1983 Joined the Company Jun 1997 Manufacturing Section Manager, Osaka Plant, Chemical Products Division Jun 2006 Plant Manager, Osaka Plant, Chemical Products Division Jun 2010 General Manager, Technology & Development, Chemical Products Division Jan 2011 General Manager, Electronic Materials Division and Sales Department Jun 2011 Director; General Manager, Electronic Materials Division and Sales Department; General Manager, RAMM Development Center; in charge of NCRI Sales and R&D Jul 2016 Director; General Manager, Electronic Materials Division and Sales Department; in charge of NCRI Sales and R&D Oct 2018 Director; General Manager, Electronic Materials Division; in charge of NCRI Sales and R&D Jun 2019 Representative Director, President; in charge of Electronic Materials Division, NCRI Sales and R&D Jun 2020 Representative Director, President; in charge of R&D Jun 2023 Representative Director, President and Executive Officer; in charge of R&D Jun 2024 Representative Director, President and Executive Officer Jun 2026 Representative Director, Chairman (current)
1958-12-11
Katsunari KITADA
Representative Director, President and Executive Officer; in charge of R&D
Apr 1995 Joined the Company Apr 2008 Senior Specialist, Sales Promotion Section, Sales Department, Chemical Products Division Nov 2008 Senior Specialist, Sales Promotion Section and Sales Section, Sales Department, Chemical Products Division Oct 2009 Senior Specialist, Tokyo Sales Office, Sales Department, Chemical Products Division Apr 2014 Manager, Operations Section, Osaka Plant, Chemical Products Division Apr 2022 Plant Manager, Osaka Plant, Chemical Products Division Jun 2023 Executive Officer; Plant Manager, Osaka Plant, Chemical Products Division May 2024 Chairman of the Board, Rasa Kouei Co., Ltd. Jun 2024 Director, Senior Executive Officer; General Manager, Management Planning Office; in charge of DX Promotion Jun 2026 Representative Director, President and Executive Officer; in charge of R&D (current)
1969-09-10
Takanori MIYANO
Director, Managing Executive Officer; in charge of Electronic Materials Division and NCRI Sales Department; overseeing Chemical Products Division and Machinery Division
Apr 1995 Joined the Company Apr 2010 Senior Specialist, Tokyo Sales Office, Sales Department, Chemical Products Division Jan 2014 Senior Specialist, Tokyo Sales Office, Sales Department, Chemical Products Division; Director, Tohoku Sales Office Jan 2015 Director, Tokyo Sales Office, Sales Department, Chemical Products Division Apr 2017 General Manager, Lisheng Precision Technology Co., Ltd. May 2022 General Manager, Sales Department and Tokyo Sales Office, Chemical Products Division Nov 2022 General Manager, Sales Department and Tokyo Sales Office, Chemical Products Division; Manager, Overseas Sales Coordination Section Jun 2023 Executive Officer; General Manager, Sales Department, Chemical Products Division Jun 2024 Senior Executive Officer; General Manager, Chemical Products Division and Sales Department Jun 2026 Director, Managing Executive Officer; in charge of Electronic Materials Division and NCRI Sales Department; overseeing Chemical Products Division and Machinery Division (current)
1972-02-16
Yoshihiro HABE
Director, Senior Executive Officer; General Manager, General Affairs Department; overseeing Sustainability Promotion Office
Apr 1987 Joined the Company Apr 2002 Senior Specialist, Osaka Sales Office, Sales Department, Chemical Products Division Oct 2002 Senior Specialist, Finance Section, Accounting Department Apr 2007 Manager, Finance Section, Accounting Department Dec 2013 Deputy Director, Osaka Sales Office, Sales Department, Chemical Products Division Jan 2015 Director, Osaka Sales Office, Sales Department, Chemical Products Division Apr 2020 Manager, General Affairs Section, General Affairs Department Oct 2021 Deputy General Manager and Manager, General Affairs Section, General Affairs Department Jun 2023 Executive Officer; General Manager, General Affairs Department Jun 2026 Director, Senior Executive Officer; General Manager, General Affairs Department; overseeing Sustainability Promotion Office (current)
1964-12-21
Takuji YAMAMOTO
Director (Full-time Audit and Supervisory Committee Member)
Apr 1991 Joined The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) Oct 2014 Branch Manager, Matsudo Branch, MUFG Bank May 2017 General Manager, Financial & Public Corporate Business Department, MUFG Bank Apr 2018 General Manager, Financial Institutions Department, Fourth Sales Division, MUFG Bank Apr 2019 Resigned from MUFG Bank May 2019 Joined M.U. Frontier Debt Collection Co., Ltd.; Executive Officer; General Manager, Corporate Business Department No. 3 May 2020 Executive Officer; General Manager, Loan Business Department, M.U. Frontier Debt Collection Oct 2021 Executive Officer; General Manager, Banking Division, M.U. Frontier Debt Collection Jun 2022 Executive Officer; General Manager, Servicing Division, M.U. Frontier Debt Collection Jun 2023 Managing Executive Officer; General Manager, Servicing Division, M.U. Frontier Debt Collection Jun 2024 Director (Audit and Supervisory Committee Member), the Company (current)
1967-03-18
Tatsuya KIKUCHI
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Asahi Mutual Life Insurance Company Apr 2011 Executive Officer; Director, Business Planning Department, Corporate Management Division Apr 2014 Executive Officer; General Manager, General Affairs and Human Resources Division Jul 2014 Director and Executive Officer; General Manager, General Affairs and Human Resources Division Apr 2015 Director and Executive Officer; in charge of General Affairs, Human Resources, and Human Resources & General Affairs Departments Apr 2016 Director and Managing Executive Officer; in charge of General Affairs, Human Resources, and Human Resources & General Affairs Departments Jun 2016 Director (Audit and Supervisory Committee Member), Nichimo Co., Ltd. (current) Apr 2018 Director and Senior Managing Executive Officer; General Manager, Sales Division; in charge of Metropolitan Area Strengthening; in charge of Sales Management and Sales Staff Structure Strengthening Departments, Asahi Mutual Life Insurance Company Apr 2019 Representative Director and Senior Managing Executive Officer; General Manager, Sales Division; in charge of Metropolitan Area Strengthening; in charge of Sales Management and Sales Staff Structure Strengthening Departments, Asahi Mutual Life Insurance Company Apr 2021 Director, Asahi Mutual Life Insurance Company Jun 2021 Representative Director, Infotechno Asahi Co., Ltd. Jun 2021 Director (Audit and Supervisory Committee Member), the Company (current) Jun 2024 Chairman, Asahi Life Foundation for Adult Disease Research (current)
1959-07-15
Miho FUJITA
Director (Audit and Supervisory Committee Member)
Apr 1999 Registered with the Daini Tokyo Bar Association Jun 2000 Completed LL.M. program, The University of Washington School of Law Joined Yasuhiro Fujita Law Offices Feb 2002 Registered as attorney, State Bar of California, USA Apr 2004 Joined Adachi, Henderson, Miyatake & Fujita Law Office (current) Jun 2022 Director (Audit and Supervisory Committee Member), the Company (current)
1970-12-15
Atsushi HAYASHI
Director, Senior Executive Officer; General Manager, Accounting Department; in charge of Management Planning Office and IR
Apr 1994 Joined The Industrial Bank of Japan, Ltd. Nov 2011 Project Coordinator, Integration Project Team, Mizuho Financial Group, Inc. Jul 2013 Director, Corporate Coverage Department No. 2, Mizuho Securities Co., Ltd. Jan 2015 Deputy General Manager, Sales Department No. 15, Mizuho Bank, Ltd. Apr 2018 Deputy General Manager, Securities Department, Mizuho Bank Apr 2019 Deputy General Manager and Deputy General Manager, Securities Department, Mizuho Bank Apr 2020 General Manager, Securities Department, Mizuho Bank May 2021 General Manager, Social & Industrial Infrastructure Department No. 2, Mizuho Bank Jul 2021 General Manager (Executive Officer), Social & Industrial Infrastructure Department No. 2, Mizuho Bank Apr 2024 General Manager (Executive Officer), Trust Solutions Department No. 1, Mizuho Trust & Banking Co., Ltd. May 2026 General Manager, Accounting Department, the Company Jun 2026 Director, Senior Executive Officer; General Manager, Accounting Department; in charge of Management Planning Office and IR (current)
1971-05-08
Daisuke HARADA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1995 Joined Norinchukin Bank Apr 2009 Deputy General Manager, Tottori Office, Norinchukin Bank Feb 2011 Deputy Manager, JA Bank Division, Norinchukin Bank Apr 2015 General Manager, Oita Branch, Norinchukin Bank Jul 2017 Deputy General Manager, JA Bank Division, Norinchukin Bank Apr 2021 General Manager, Okayama Branch, Norinchukin Bank Apr 2024 General Manager, Kanto Business Department, Norinchukin Bank Apr 2026 Counselor, Business Planning Department, Norinchukin Bank Jun 2026 Director (Audit and Supervisory Committee Member), the Company (current)
1972-01-31
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-10-21
3.24%→3.59%
Rasa Industries Business Partners Shareholding Association, Chairman Seiji MORIYA
2026-10-08
5.62%
Mitsukazu Funabashi
2026-10-08
5.01%→0.00%
Nomura Asset Management Co., Ltd.
2026-10-06
3.24%
Nomura Asset Management Co., Ltd.
2026-09-04
3.20%→3.20%
Goldman Sachs International
2026-08-07
5.15%
Goldman Sachs International
2026-06-05
5.07%→1.07%
Goldman Sachs International
2026-05-22
5.07%
Mizuho Bank, Ltd.
2026-05-12
3.16%→3.16%
Sumitomo Mitsui DS Asset Management Company, Limited
2025-09-19
5.00%→3.78%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-08-06
2.44%→2.04%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-10-08
Large Shareholding Report
EDINET
2026-10-08
Large Shareholding Report
EDINET
2026-10-06
Large Shareholding Report
EDINET
2026-09-04
Large Shareholding Report
TDnet
2026-08-12
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-08-07
Large Shareholding Report
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-05
Large Shareholding Report
EDINET
2026-05-22
Large Shareholding Report
EDINET
2026-05-12
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-06
Large Shareholding Report
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-14
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINETAmended
2022-11-14
Amended Annual Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
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